‘Persistent youth unemployment carries high economic costs’

The
president of The Gambia Chamber of Commerce and Industry has acknowledged that
persistent youth unemployment and underemployment carries very high economic
costs and threatens the very fabric upon which the society is built.

Muhammad
Jagana was speaking on Wednesday at its 5th press briefing, which also
witnessed the launching of forthcoming GCCI Trade Fair at its Kerr Jula in
Bijilo. The event also accords the officials the opportunity to highlight the
Chamber‘s agenda for 2018.

Jagana
maintained that as the new government celebrates one year in existence, GCCI
concludes celebrations marking its Golden Jubilee (1967 – 2017), 50 years
anniversary.

The
theme for this year’s event is “Economic Transformation for Gambian Business
Empowerment”.

“Private
Sector Development (PSD) is a strategy for promoting economic growth and
reducing poverty in The Gambia. This is
achieved by building private enterprises, membership organisations to represent
them as in the case of Gambia Chamber of Commerce and Industry (GCCI), and
competitive markets that are stronger and more inclusive. After participating
in developing the Private Sector Development Strategy for The Gambia, GCCI
continues to push for its implementation, as well as work diligently with our
partners to advocate for a conducive environment for Gambian businesses”.

Earning
a decent income in the private sector, he went on, is also more dignifying than
relying on hand-outs. This, he added, also reflects the situation of the
Gambian youths.

“Our
young people represent the promise of changing our society for the better.
Conversely, young people are facing serious barriers to access the labour
market, some of them are not transitioning to decent work and are almost at the
risk of social exclusion”..

He
acknowledged that failure to generate sufficient private sector jobs can result
in long-lasting “scarring” effects on our young people such as the “Back-way
Syndrome”.

“We
must all join hands to halt and reverse this trend. However, there is powerful
reassertion of activism from young people who refuse to accept a future of
unemployment, marginal work, and expensive poor-quality education. They range
from Social Entrepreneurs to Trade Union leaders. This capacity of our youths to react
positively deserves to be applauded”.

According
to him, GCCI is working with partners such as YEP, and others to ensure that
young entrepreneurs are supported in a big way at the upcoming trade.

This,
according to him, would comprise pre-trade fair training, support for logistics
etc. “We want to appeal to everyone to support youth enterprises by buying
their products and utilizing their services.”

He
noted that the private sector itself, through GCCI, is playing and will
continue to play an important role in advocating for a better business
environment.